Confessions of a Forex Trader

An image is worth a thousand words:

USDCAD

Pretty clear isn’t it?

It is right in the middle of the range, we still have a long way before the USDCAD reaches the next LT resistance level, and therefore long opportunities are in play.

Here is my Trading Plan:

As long as the USDCAD trades above 1.0491 I will be looking for long trade opportunities. My next LT level is at 1.0691

Short opportunities are out of play in the Canadian Dollar

Trade Safe
Raul Lopez

Tags: Canadian dollar, Forex majors, USDCAD Analysis

This entry was posted on Wednesday, December 30th, 2009 at 7:11 pm and is filed under Technical. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.